Skip to main content

Ghana is best destination for business in West Africa -Ablakwa

Deputy Minister of Information, Samuel Okudzeto Ablakwa, last week stated that as per the latest World Bank report Ghana is the best country to transact business in the West Africa sub-region.

The report moved Ghana from the 77th position to 67th as a country for business reform and also voted the country to the 44th position out of 183 as the best country for protecting businesses.

The Deputy Minister, who was inaugurating Smayak Hotel, a modern hospitality facility, at Gomoa Ankamu near Apam in the Central Region, said the government of President Mills is on course and that the country is gaining a lot of confidence from the international business community.

He urged Ghanaians to take advantage of the business friendly environment created by government to invest more in the economy.

According to him, government is making major transformations in the economy with the oil find.

Ablakwa said Ghana cannot be said to be industrialized without good hospitality services as he expressed contentment that the hotel is wholly owned by a Ghanaian who will keep profits accruing from the facility in the country.

Theophilus Aidoo-Mensah, Gomoa West District Chief Executive, commended the proprietor for putting up such a facility in the rural area.

The DCE outlined investment opportunities in the district to include a large tract of coastal lands for hotels and restaurants, large deposits of quarry stones and gold deposits, clay deposits for pottery, bricks and tiles, sand for pozzilana cement, and arable land for mechanized farming.

The district also has tourist destinations such as slave sites and forts and also crops for agro-processing.

Aidoo-Mensah said the assembly will assist investors to negotiate for acquisition of lands, consider discounts and exemption in payment of local taxes for a period between one to five years, and facilitate the provision of utility services to the industrial sites and to provide business advisory services and technical engineering support.

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...